A promise by one party to do a specified deed as the other party in turn performs a specific deed.

Open End Mortgage

A mortgage permitting the mortgagor to borrow additional money under the same mortgage, with certain conditions.v

Open Listing

An authorization given by a property owner to a real estate Broker wherein said Broker is given the nonexclusive right to secure a purchaser; open listings may be given to any number of Brokers without liability to compensate any except the one who first secures a buyer ready, willing and able to meet the terms of the listing, or secures the acceptance by the seller of a satisfactory offer.

Origination Fee

A fee or charge for work involved in the evaluation, preparation and submission of a proposed mortgage loan.

Owner of Record

The individual (s) named on a deed that has been recorded at the local municipality.